German Grocery Chain Buys Fairless Hills Warehouse for $145M as Part of Expansion
A popular grocery store chain has recently made a large purchase in Bucks County as a part of their national expansion. Jackson Chen wrote about the purchase for Commercial Property Executive.
Lidl, a grocer based out of Germany, recently purchased 69 acres from NorthPoint Development, who owns a large chunk of land in Fairless Hills, for $144.6 million.
The purchase of the acres come as Northpoint Development continues work on the long-discussed Keystone Trading Center. The developers plan to build a more than 1 million-square-foot warehouse at the site.
The German company moved their headquarters to Arlington, VA back in 2015. Since then, they have built 150 stores in the states. The company’s latest acquisition of the Bucks County property is another sign of their intentions to continue expansion in the country.
Read more about the company’s latest purchase at Commercial Property Executive.
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